Launch apps instantly. Claim $200 credits on DigitalOcean for free!
Written by kishanroy » Updated on: January 16th, 2025
India Payment Gateways Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 10.1% (2024-2032)
India's booming e-commerce landscape has created a thriving market for payment gateways. According to the latest report by IMARC Group, The India payment gateways market size reached US$ 1,629.0 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 3,981.7 Million by 2032, exhibiting a growth rate (CAGR) of 10.1% during 2024-2032.
Grab a sample PDF of this report: https://www.imarcgroup.com/india-payment-gateways-market/requestsample
India Payment Gateways Industry Trends and Drivers:
The India payment gateways market is expanding rapidly, owing to several key factors. Primarily, the market is driven by the quick rise in digital transactions, which is being fueled by demonetization rules, growing internet penetration, smartphone use, and government programs like Digital India that encourage cashless payments. Besides this, the demand for safe and effective payment gateways is being fueled by the growth of fintech companies, online services, and e-commerce. In line with these factors, consumers’ preference for seamless and convenient payment methods, including UPI, mobile wallets, and credit/debit cards, is significantly contributing to the growth of the India payment gateways market. Additionally, the growing adoption of payment gateways by small and medium enterprises (SMEs) and brick-and-mortar stores to enable digital payments is boosting the market.
A key trend in the India payment gateways market is the integration of advanced technologies such as artificial intelligence (AI) and machine learning (ML) to enhance transaction security and prevent fraud. Furthermore, payment gateway providers are also focusing on improving user experience by offering faster processing times, multi-currency support, and customized payment solutions. In addition to these factors, the rise of subscription-based services and recurring payment models is driving the development of automated payment gateway features. Moreover, the increasing penetration of buy-now-pay-later (BNPL) options and other flexible payment methods is reshaping consumer purchasing behavior. These factors, coupled with regulatory support for digital financial inclusion and the growing emphasis on cybersecurity, are anticipated to drive the growth of the India payment gateways market over the forecasted period.
India Payment Gateways Industry Segmentation:
The market report offers a comprehensive analysis of the segments, highlighting those with the largest India payment gateways market share. It includes forecasts for the period 2024-2032 and historical data from 2018-2023 for the following segments.
The report has segmented the market into the following categories:
Application Insights:
Mode of Interaction Insights:
Regional Insights:
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Contact Us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: [email protected]
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145
We do not claim ownership of any content, links or images featured on this post unless explicitly stated. If you believe any content or images infringes on your copyright, please contact us immediately for removal ([email protected]). Please note that content published under our account may be sponsored or contributed by guest authors. We assume no responsibility for the accuracy or originality of such content. We hold no responsibilty of content and images published as ours is a publishers platform. Mail us for any query and we will remove that content/image immediately.
Copyright © 2024 IndiBlogHub.com. Hosted on Digital Ocean